It’s another day and another Elon Musk news with it as SpaceX and Tesla founder Elon Musk has now slipped to the third spot in the top 10 richest person list after Tesla’s shares fell. The outspoken visionary has lost $6.2 billion by the end of Wednesday and was overtaken by Amazon founder Jeff Bezos and CEO of LVMH Moët Hennessy.
Musk is no stranger to enormous rise and massive falls when it comes to wealth generation. In January Elon Musk was valued at around $197 billion but suffered massive falls in the upcoming weeks. Currently, Musk is valued at $150 billion according to Forbes real-time billionaires list.
Musk’s bearish rally began on Wednesday as by the end of the day the Mars colonizer lost $6.5 billion. Elon stayed at number the third position until Thursday evening. Thanks to the stock fluctuations in the market though, he once again regained his spot and regained his position. However, as it is the case with Tesla’s prices, the pendulum swung against Musk and the shares fell close to 5%. At the time of writing, His net worth is $150.9 billion. This is a steep and sharp low compared to his net worth which was valued at $191 billion on February 17.
Moving to the other leaders in the list, Amazon founder Jeff Bezos has concreted himself as the number one position and is valued at $175 billion. CEO of LVMH Moët Hennessy, Bernard Arnault, overtook Musk and is now worth $162 billion. Arnault can be added to the list of the most well-earning unknown men in the richest man list. To set the record straight, Arnault is the CEO of the LVMH group that handles the biggest luxury brands in the world comprising of Fendi, Louis Vuitton, Christian Dior, Marc Jacobs, Tiffany & Company, etc.
Without digressing further, it should be noted that on February 24, Musk had lost another $15 billion in a single day due to a single tweet where he himself made a remark on Tesla’s share value being overvalued. Back then, the 49-year-old business tycoon was worth $166 billion. The fall had pushed him to the second place of the world’s richest persons.
As this is normal behaviour for the stock market wiping out billions of dollars of fortune of entrepreneurs, it is a certainty that Musk will rebound to being the second richest person in the world in no time. But for now, a new billionaire has to be crowned.
On the fourth position, is Microsoft founder entrepreneur-philanthropist Bill Gates who lost $745 million from his fortune and is now steady at $122 billion in his pocket. Meanwhile, Facebook founder and CEO Mark Zuckerberg added $801 million to his fortune and his net worth is now at $94.1 billion.
The list also comes with fair tidings for India as Reliance Industries CEO Mukesh Ambani, who was recently in news for acquiring skyTran to compete with Elon Musk, is in the 10th position. Currently, Mukesh Ambani is in the 10th position in the world’s richest person list with $84 billion in his fortune.